I hadn’t heard about the study until after the various refutations came in afterwards. The whole premise of high public debt affecting GDP makes no sense, since there’s no apparent causal mechanism, and no reason to think 90% (the figure from the study) has any particular significance.
The public is very confused over the matter, with most believing that public debt is an important issue—while knowing virtually nothing about macro-economics or finance.
“Debt” is a scary word, right? No one likes being debt! The government is going bankrupt! Well, except it isn’t… because it just doesn’t work that way. And yet this fear and misconception has been cynically exploited by austerity advocates, and it’s causing and will cause even more untold suffering for millions, and loss of real capital. Of course, some people are benefitting from this…